Solutions

Decentralization: Enhancing Trust, Efficiency, and Empowerment

Traditionally, all decision-making power was centralized to old or dated institutions that were reluctant to change. With the help of decentralized principles, we can introduce verifiability and traceability to the data concerning the actual work done on the ground. No longer will the outcome be invisible to those it impacts nor to those who seek to better know about the work being done. Moreover, DeFi (Decentralized Finance) can revolutionize the industry by empowering local waste collection organizations with increased ownership over the projects and their finances.

Marketplace: Unifying Supply and Demand

An open marketplace where brands and businesses can interact seamlessly, facilitating the purchase and sale of plastic credits through secure and transparent transactions. Smart contracts will ensure transactions are automated, and the risk of fraud is reduced.

Verifiable Proofs

For every part of their work, WMOs will be empowered to provide proof of their activity, which will be independently audited by ecoCreds, initially manually, then moved on to an automated model. Once verified, they will be submitted on a chain, creating a chain of verifiable proofs that can be traced back to almost every detail of a project they have worked on. This will, in turn, impact trust metrics and benefit them in the long run.

Public Profiles: Building Trust and Communication

By deploying public profiles for both businesses and WMOs, they can have a dedicated source of truth, which can have verifiable details for the public to view at any time. They include credentials, achievements, and the overall impact of the respective entity on their sustainability commitments. This builds trust among the stakeholders and participants alike and helps them stay informed.